subject: Debt Settlements - Do You Really Need To Talk To A Professional For Debt Relief? [print this page] Most common consumers do not have any professional financial training. This is the reason why they end up facing huge debts in the first place. If faced with huge debts, debtors can choose to settle the debts themselves or hire the professional help. If the debtors choose to settle the debts themselves, they will save the amount of fees payable to the settlement company. But the debtor will have to deal with aggressive collection calls and the stress related with the negotiation. Moreover, most consumers are unable to make the most of a debt settlement, if they choose to settle the debt themselves.
On the other hand if the debtors hire a debt settlement company, they do not have to deal with the creditors at all. The creditors also prefer to deal with a professional organization rather than deal with confused and stressed individuals. The debt settlement companies have a large customer base, which allows the creditors to settle several accounts at the same time. Due to this they are usually more co-operative with debt settlement companies than they are with individual debtors.
Along with negotiating and settling debts, the settlement companies also provide other services. They provide guidance on how to consolidate loans and how to convert unsecured loans into secured ones. Moreover, all reputed debt settlement companies provide free guidance for budget planning. They educate the debtor on how to avoid debt in the future. They also guide them on how to increase their income and savings. If the debtors cannot afford the fees charged by these companies, they should at least take the free guidance provided by many non profit debt relief networks. In this case they will have to deal with the creditors themselves, but will be forearmed with the knowledge of how to get the best deal.
It would be wise to not go directly to a debt settlement company but rather first visit a debt relief network. The top debt relief networks only allow debt settlement companies into their accredited organizations that prove a track record of successfully negotiating debts. They are free to use and offer helpful debt relief advice.
